ILS

Florida domestic insurers will need to raise capital following Irma, which will result in a range of outcomes at the June renewals, according to an expert panel at the Trading Risk New York Rendez-Vous last week.

The reaction of investors in cat funds that write retro will play a major part in determining the extent of rate hardening for both reinsurers and insurers at 1 January.

Insurance-linked securities (ILS) investors contemplating leaving the sector because of low rates may be enticed to stay by the price increases expected following the recent hurricanes, according to Todor Todorov, head of ILS research at Willis Towers Watson.

Insurance-linked securities (ILS) managers must enter into dialogue with cedants to build confidence following the recent hurricanes, said Paul Schultz, CEO of Aon Securities, speaking at the Trading Risk New York Rendez-Vous last week.

Fund manager Markel Catco has stepped up reserving following hurricanes Harvey, Irma and Maria, setting aside a total amount equivalent to a fifth of its net asset value (NAV)

The impact of hurricanes Harvey, Irma and Maria (HIM) means the insurance-linked securities (ILS) sector is in line for one of its more complicated 1 January renewals, despite the fact the market's share of losses will be much more contained than it might have been.

The reinsurance industry's capital position is stronger than at any time since the 1970s and should be comfortably able to absorb losses from recent catastrophes, according to JLT Re's global head of analytics David Flandro.

Total return reinsurer Third Point Re notified investors today that its net losses from recent catastrophes would amount to less than $10mn, while adding that its year-to-date investment results reached 14.4 percent.

Uncertainty over the cost of hurricanes Irma and Maria has put the brakes on the recovery of the secondary cat bond market, which had initially rebounded.

Markel Catco has said recent catastrophe events mean its 2017 annual return could fall anywhere between up 5 percent to down by as much as 15 percent.

Markel Catco warned that its net asset value (NAV) per share could fall by as much as 15 percent in 2017 as it prepared to sell shares to replenish capital

AmWins and Integro are competing to acquire Tysers as a deal with one-time frontrunner RFIB remains elusive after months of talks, The Insurance Insider understands